Russia/China bow out of Sanctions on Venezuela

[Rodent + 1,424]

China and Russia don't seem too interested in playing along with US sanctions on Venezuela, despite Maduro's suspect win. And Venezuela gave two US diplomats the boot yesterday as things heat up. The sanctions may pressure Citgo, but how effective are the US sanctions really going to be when China and Russia keep propping up Venezuela? And looks like the US is still going to import some Venezuelan crude. How painful will these sanctions relaly be?

[William Edwards + 708]

2 hours ago, Rodent said:

China and Russia don't seem too interested in playing along with US sanctions on Venezuela, despite Maduro's suspect win. And Venezuela gave two US diplomats the boot yesterday as things heat up. The sanctions may pressure Citgo, but how effective are the US sanctions really going to be when China and Russia keep propping up Venezuela? And looks like the US is still going to import some Venezuelan crude. How painful will these sanctions relaly be?

Based upon this weeks import data, it appears that Iraq is perfectly happy to step in and fill the gap.

Edited May 23, 2018 by William Edwards

[Rodent + 1,424]

I didn't see the weekly import numbers by country, but it looks like most of the main suppliers of crude to the US are on a downward trajectory except Iraq and Canada--I suspect some because they cannot provide more, and others because the US doesn't want more. Some a bit of both.

 

[Guest]

It looks as though Venezuela will get worse on its own, regardless of sanctions.